Weekly Forex Outlook for the Period Ending September 7th, 2012

List of major upcoming economic factors which could affect the forex markets for the week ending September 7th, 2012 are as under:

On Monday, September 3rd, markets remained closed in United in observance of Labor Day while in euro zone, Italy, Germany and France reported their data on purchasing managers’ index for manufacturing sector while a separate PMI was released for the single currency region. United Kingdom reported its data on purchasing managers’ index and Lloyds Business barometer.

In Australia data on TD securities inflation, job advertisements, retail sales and commodity price index was published while Japan reported its data on capital spending.

On Tuesday, September 4th, 2012, data on producer price index was released in the euro zone while United States came up with data on purchasing managers’ index and construction spending. Institute of Supply and Management and also released its manufacturing data and figure on prices paid.

United Kingdom published its figure on purchasing managers’ index for services & construction sector along with data on house prices while in Switzerland data on gross domestic product was produced.  Australia published its figures on current account balance and net exports of GDP while the Reserve Bank of Australia released its interest rate decision. In Japan, data on labor cash earnings and monetary base was reported.

On Wednesday, data on vehicle sales, MBA mortgage applications, unit labor costs and non-farm productivity will be published in United States while in Canada, the Central bank will release its interest rate decision. In the euro zone, Italy, France and Germany will release its figures on purchasing managers’ index for services sector while a separate PMI for services sector will be released for the euro zone. The single currency region will also publish its data on retail sales.

United Kingdom will report its data on PMI for services and official reserves while in Switzerland data on consumer price index will be reported. In Australia, official figure on gross domestic product is expected while in Japan, Bank of Japan’s board member Miyao will address at a press conference.

On Thursday, September 6th, 2012, data on gross domestic product, household consumption, government expenditure and gross fixed capital will be released in the euro zone while the European Central Bank will announce its interest rate decision. Germany will also report data on its factory orders. In United States, official data on job cuts, consumer outlook index, employment change, initial jobless claims, continuing claims and manufacturing data by Institute of Management and Supply will be published. Moreover, the Energy Information Administration will release its weekly inventories report on crude oil, gasoline, distillates and natural gas.

In UK, the Bank of England is expected to announce its interest rate decision and asset purchase target. Australia will report its data on employment change, unemployment rate and participation rate while in Japan data on Japanese buying in foreign stocks & bonds and foreign buying in Japanese stocks & bonds will be published.

On Friday, September 7th, 2012, Germany is expected to report its data on wholesale price index, trade balance, labor costs, current account, imports, exports and industrial production. In United States, data on change in manufacturing payrolls, full time employment change, unemployment rate, average hourly earnings, change household employment, underemployment rate, change in private payrolls and change in average hourly earnings is to be released. Canada is expected to publish data on building permits, participation rate, labor productivity, unemployment rate, net change in employment and purchasing managers’ index.

In United Kingdom data on industrial production, manufacturing production and producer price index will be reported. Switzerland is to release its official figures on foreign currency reserves and unemployment rate on Friday. Australia will report its official figures on trade balance and foreign reserves while Japan will report its data on reserve assets along with figures on leading index and coincident index.

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